Durect Corporation Stock Forecast

Volatile ride for Durect Corporation stock price on Friday moving between $0.97 and $1.19
(Updated on May 03, 2024)

DRRX Signals & Forecast

The Durect Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $0.98 and $1.02. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Durect Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, March 14, 2024, and so far it has fallen -15.33%. Further fall is indicated until a new bottom pivot has been found.

Support, Risk & Stop-loss for Durect Corporation stock

On the downside, the stock finds support just below today's level from accumulated volume at $1.06 and $1.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Durect Corporation finds support just below today's level at $1.06. If this is broken, then the next support from accumulated volume will be at $1.02 and $0.95.

This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.219 between high and low, or 22.53%. For the last week, the stock has had daily average volatility of 14.21%.

Since the Durect Corporation has been rising for 9 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $1.10 (-5.40%) (This stock has high daily movements and this gives high risk. There is a sell signal from a pivot top found 35 days ago.)

Trading Expectations (DRRX) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Durect Corporation to open at $1.11, and during the day (based on 14 day Average True Range), to move between $1.06 and $1.26, which gives a possible trading interval of +/-$0.103 (+/-8.87%) up or down from last closing price. If Durect Corporation takes out the full calculated possible swing range there will be an estimated 17.73% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $1.21 (4.31%) than the support at $1.06 (8.62%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Durect Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Durect Corporation stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.

Current score: 2.948 Buy Candidate Upgraded

Predicted Opening Price for Durect Corporation of Monday, May 6, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.